An Overview of Personal Loans

With the economy in such dire straits, many people are looking to different types of loans to take care of their bills while searching for second jobs. Personal loans are loans made directly to the borrower from a bank or lending house. Covering everything from medical bills to credit cards to student loans, these loans are helping people get what they need, when they need it. While there are many different types of personal loans, the can all be categorized as one of two different types: secured and unsecured. Which type of loan you get is dependent on what you will be using the money for. Some loans are available in both secured and unsecured options, while others are only found as one or the other.

Secured personal loans are provided by specific lenders, and have their repayment secured by a physical item. This is how they get their classification. The two most common types of secured loans are home mortgages and car loans. The loans are made specifically for a single purchase. This purchase is repaid in set amounts every month over the length of the loan. If payments are ceased, the lender repossesses the item – the car or the house – in lieu of payment. In contrast, Unsecured Personal Loans are the more common and the more recognizable. Unsecured loans cover a vast majority of ground, from store lines of credit to student loans to medical bills. Once these loans are issued, they can be used for a range of items and services. In addition, many unsecured loans have variable interest rates that can change monthly or annually.

For people who need extra money to pay for a car or a college education, personal loans are available to help fund their needs lenders are available for all credit situations.

US News Factors Reverse Mortgages into Retirement IQ

The Internet abounds with endless content on financial opinions and retirement savings. In efforts to cut through all the noise, US News offered up 10 questions people should consider to boost their retirement IQ, even touching briefly on reverse mortgages.

The pool of retirement assets is diverse, from Social Security and pensions to IRAs and 401(k) plans. Other strategies such as downsizing into a smaller house or getting a reverse mortgage can also provide some extra wealth for their retirement.

But when it comes to reverse mortgages, US News suggests readers do some research and weigh the costs to decide whether taking out the loan or moving into another...

Arizona Lawmakers Consider "Payday Lending" Bill

March 19, 2015

PHOENIX - The Arizona State Senate is considering a bill, already approved by the House, which opponents say could allow payday lenders to issue loans with costs equaling an annual interest rate of more than 200 percent.

Cynthia Zwick, executive director with the Arizona Community Action Association, says House Bill 2611 would create flex loans which would allow lenders to charge undisclosed fees.

But then theyre allowed to charge customary fees under this legislation, and customary fees are undisclosed, says Zwick. So, the fees added to the interest get up to 218 percent a year, on one of these loans.

Zwick says the bill is an attempt by the payday...

United Fresh Announces New Board Of Directors

by United Fresh Produce Association
Posted: Monday, March 23, 2015 at 9:08AM EDT

WASHINGTON, DC United Fresh Immediate Past Chairman Ron Midyett, Apio, Inc., has announced the slate of new officers and directors nominated to serve on the United Fresh Produce Association Board of Directors, effective at its April 29, 2015 meeting in White Sulphur Springs, West Virginia.

Ascending to Chairman of the Board is Brian W. Kocher, Interim Chief Executive Officer, Chiquita, Charlotte, NC. Brian currently serves as Chairman-Elect of the Board. Brian joined Chiquita in 2005, became president of North America in 2007, and has served in several positions since...

Don’t Settle for 1% Cash Back on Credit Cards

The credit-card rewards wars are heating up. A growing number of credit-card issuers are rolling out rewards programs that promise to give card users more cash back for their purchases.

The latest addition is Citizens Financial 's newest credit card, announced on Wednesday, that offers cardholders 1.5% back on every purchase. The Cash Back Plus World MasterCard doesn't cap the dollar amount that borrowers can get through this rewards program, and it allows them to get up to 1.8% cash back in total if they use the card at least once a month and arrange to have the rewards automatically deposited into a Citizens checking, savings or money-market account.

With cash-back rewards...

The Rise Of Mortgages: Too Much House?

Economists sometimes argue that more choices must either be neutral or good. The logic is that if you dont want any of the additional choices, then dont take them, and you are equally well off. If you do want one of the additional choices, you are then better off. Of course, this argument is not airtight. It assumes that there are no costs of evaluating more choices, and it presumes that the chances of choosing wisely and well are not diminished as the number of choices rises.

For one case in which these issues arise, consider the many changes in financial markets and government regulations that have made it vastly easier for people to take out a mortgage loan and buy a house. I certainly...

3 Gas Credit Cards That Aren’t as Bad as Most (and Why You Still May Not Want …

NEW YORK (MainStreet) -- Gasoline credit cards have an optics problem with consumer advocates -- and consumers: They arent typically good deals.

They tend to charge higher interest rates and offer minimal rewards and paltry sign-up bonuses, according to a report from that points out the following downsides to gas credit cards:

  • Excessive rates: An average APR of 24%, far above the 15% for general-purpose cards.
  • Meager rewards: Most gas cards offer a 10-cent discount per gallon. Thats a decent return (about 4% at current gas prices). But when gas prices rise, that percentage will decline. And its already less rewarding than other options.
  • Weak...

Full Text: Report on the Work of the Government (4)

To deliver a good performance in the work of the government this year, we need to concentrate on the following three areas:

First, we need to ensure continuity in and make improvements to macroeconomic policies.

We will continue to implement proactive fiscal policy and prudent monetary policy. We will pay greater attention to anticipatory adjustments, fine-tuning, and targeted regulation. We will put both existing and additional financial resources to good use, focusing particularly on strengthening weak spots. We will improve micro-level vitality to underpin macroeconomic stability, explore new ways of achieving supply to boost demand, and balance total supply and demand through...

Credit cards to get ‘smart chip’

Photo by JD Pooley/Sentinel-Tribune

Credit Cards

As part of an overdue upgrade to deter fraud, companies will issue a different type of credit card to customers over the next six months. The new cards will still have the familiar magnetic strip but will add a smart chip that makes it exponentially more difficult to steal information.

£6bn boom in new mortgages: Ultra-low rates offered fuel demand

The number of mortgages being approved to home buyers is increasing as borrowers take advantage of the ultra-low rates on offer, according to a high street banking report.

Some 37,305 mortgages were approved for house purchase in February with a collective value of £6.2billion, marking a 2 per cent increase on the previous month, the British Bankers Association (BBA) said.

While the number of house purchase approvals is still 20 per cent lower than a year ago, early 2015 is seeing a higher demand for mortgages than the levels seen towards the end of last year, the BBA said.

Chase Cardholders Claim Cards Declined During Lolla Purchases

Many Lollapalooza fans attempting to purchase three-day passes during Tuesday mornings sale ran into a big a problem when their Chase Bank credit cards were rejected during their purchase.


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